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Ed Royce: The U.S. is ready for actions that will lead to collapse of the Russian economy

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Kyiv, April 22, 2014 The U.S. is ready for a «series of actions that will lead to collapse of the Russian economy”, in case of the military intervention of Russia across Ukraine’s eastern border, said Ed Royce, (Republican – CA), Chairman of the House Foreign Affairs Committee during a press briefing at the Ukraine Crisis Media Center in Kyiv.

“This will be a series of actions that will lead to collapse of the Russian economy. We are already witnessing a number of problems at Russian markets. The problem is not only that finances and investments will leave Russia, the problem also is that all investments into Russia will be blocked”, said Ed Royce.

The Chairman of the House Foreign Affairs Committee summarized the results of trip to Ukraine of a bi-partisan delegation of the US Congress. He drew parallels between Russian and the USSR which heavily influenced the Eastern block countries, using its monopoly rights to deliver oil and gas and setting the price.

«The Soviet Union used a low price and monopoly to pay for its existence. Now the issue of transporting the US gas to Eastern Europe is open for the US to brake the monopoly of Russian gas. This will heavily impact Russia, the financing of its army and the government, since 52 per cent of Russia’s budget is based on selling oil and gas, said Mr. Royce.

He also emphasized that one of the most important events in Ukraine will be the Presidential elections on May 25. Eliot Engel, (Democrat – NY), Ranking Member of the House Foreign Affairs Committee, also on the trip to Ukraine, said that the future elections will be vital for the development of Ukraine’s democracy, and the election process should take place transparently and based on free expression of will. “Maydan was an inspiration to millions of people, and now the whole world has a stake in the election”, said Eliot Engel.


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